How are the various projects developing further?
Posted: Tue Dec 17, 2024 4:11 am
Decentralized means own responsibility. So if you do something wrong with your cryptocurrency wallet, you lose the money and you can't knock on anyone's door to get it back. The various bugs that are currently being discovered in the 'smart contracts' that DeFi projects use, are the highest priority to solve and prevent forever.
It is now mainly for real technology enthusiasts and developers who understand how the functions work.
Who is liable in a decentralized environment?
Governments have woken up very quickly to this new hype after their experience with the ICO boom in 2017. They are trying to set up legislation and regulations around DeFi much faster. The biggest challenge remains, who is liable in a decentralized environment? The decentralized nature of Bitcoin, for example, ensures that no one can be taken to court or asked for an explanation.
The coming period will therefore be important for the further development of DeFi:
What will legislators and regulators do to rein in DeFi through regulation?
What new possibilities are being added that were not possible before?
Will the general public also start using it?
Just like with the previous hype in 2017, I indonesia telegram data think we will mainly see a lot of projects that cannot live up to their expectations and fall away. Just like in previous crises, a handful of companies will remain, which will then have an insane impact on our society. As we have seen with Amazon, Facebook and Airbnb.
Every day new projects are added, which tackle the various challenges in an insane way. From stability to ease of use and from linking the various services to security.
Crazy technological developments
I personally do not see DeFi banks making other financial institutions redundant – just as diehard Bitcoin supporters have been arguing since its inception. Dutch banks are leading the world in the development of various blockchain applications. I also see them developing their own products in this area, which are in line with current laws and regulations.
But just as the PSD2 legislation has opened the door for parties such as Google and Apple to enter the financial market and Facebook is still working on its Libra project, the market will also undergo an insane technological development in the coming years.
It is now mainly for real technology enthusiasts and developers who understand how the functions work.
Who is liable in a decentralized environment?
Governments have woken up very quickly to this new hype after their experience with the ICO boom in 2017. They are trying to set up legislation and regulations around DeFi much faster. The biggest challenge remains, who is liable in a decentralized environment? The decentralized nature of Bitcoin, for example, ensures that no one can be taken to court or asked for an explanation.
The coming period will therefore be important for the further development of DeFi:
What will legislators and regulators do to rein in DeFi through regulation?
What new possibilities are being added that were not possible before?
Will the general public also start using it?
Just like with the previous hype in 2017, I indonesia telegram data think we will mainly see a lot of projects that cannot live up to their expectations and fall away. Just like in previous crises, a handful of companies will remain, which will then have an insane impact on our society. As we have seen with Amazon, Facebook and Airbnb.
Every day new projects are added, which tackle the various challenges in an insane way. From stability to ease of use and from linking the various services to security.
Crazy technological developments
I personally do not see DeFi banks making other financial institutions redundant – just as diehard Bitcoin supporters have been arguing since its inception. Dutch banks are leading the world in the development of various blockchain applications. I also see them developing their own products in this area, which are in line with current laws and regulations.
But just as the PSD2 legislation has opened the door for parties such as Google and Apple to enter the financial market and Facebook is still working on its Libra project, the market will also undergo an insane technological development in the coming years.